IT, bank stocks lift equity indices

Mumbai, April 12 : Extending gains for the sixth consecutive session, the key Indian equity indices on Thursday closed with appreciable gains riding on healthy buying in IT, Teck (technology, media and entertainment) and banking stocks.
However, selling pressure in metal, healthcare and realty stocks, along with negative cues from global peers and higher crude oil prices, limited the gains.
According to market observers, some caution prevailed ahead of the release of macro-economic data, such as the Index of Industrial Production and the Consumer Price Index later in the evening.
On a closing basis, the wider Nifty50 of the tiol Stock Exchange (NSE) edged higher by 41.50 points or 0.40 per cent to 10,458.65 points.
The barometer 30-scrip Sensex of the BSE closed at 34,101.13 points — up 160.69 points or 0.47 per cent from its previous session’s close.
The BSE market breadth remained bearish with 1,519 declines and 1,142 advances.
“Markets surged higher on Thursday as the Nifty broke out of a two-day trading range ahead of industrial production data (IIP) and inflation data scheduled to be released in the evening. It was the sixth consecutive session of gains for the Nifty,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.
“Sectorally, top gainers were the IT and Bank Nifty indices. The top losers were realty, metals, PSU banks and pharma indices,” he added. On the currency front, the rupee strengthened by six paise to end at 65.26 against the US dollar.
Commenting on the global front, Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said: “Asian markets were under pressure as the threat of imminent US military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns about supply.”
In terms of investments, provisiol data with the exchanges showed that foreign institutiol investors bought scrips worth Rs 368.90 crore, while the domestic institutiol investors sold stocks worth Rs 615.81 crore.
Sector-wise, the S&P BSE IT index gained the most — up 391.52 points — followed by Teck index, which rose by 164 points and banking index by 99.39 points. The S&P BSE metal index fell by 199.19 points, healthcare index by 99.40 points and realty index by 42.08 points.
Major Sensex gainers on Thursday were: Tata Consultancy Services, up 4.04 per cent at Rs 3,137.30; Infosys, up 3.41 per cent at Rs 1,162.25; Axis Bank, up 1.63 per cent at Rs 548.30; ICICI Bank, up 0.83 per cent at Rs 286.45; and HDFC, up 0.81 per cent at Rs 1,828.40 per share.
Top losers on the Sensex were : Dr. Reddy’s Lab, down 1.97 per cent at Rs 2,058.80; Tata Steel, down 1.51 per cent at Rs 598.55; Adani Ports, down 1.50 per cent at Rs 372.05; State Bank of India, down 1.17 per cent at Rs 254.30; and Bharti Airtel, down 1.16 per cent at Rs 380.10 per share. (IANS)